September 7, 2004
Kobelco opens subsidiary in Vietnam
Kobelco Construction Machinery Co., Ltd. has formed a subsidiary
in Vietnam called Kobelco Construction Machinery Vietnam Co.,
Ltd. Located in Bien Hoa, northeast of Ho Chi Minh City, Kobelco
Construction Machinery Vietnam handles new and used construction
machinery and provides spare parts and aftersales services.
Kobelco Construction Machinery Vietnam is a wholly owned
subsidiary of Kobelco International (S) Co., Pte. Ltd. in
Singapore, which in turn is a 100% subsidiary of Kobelco Construction
Machinery Co., Ltd. in Japan. The new company began operating
in late July. Plans call for the establishment of a branch
in Hanoi later this year.
Demand for construction machinery in Vietnam is robust and
Japan exports over 5,000 units of used construction equipment
each year. Vietnam is aiming to enter the WTO and this development
is anticipated to increase the market for new machines considerably.
On this background, Kobelco in recent years has been strengthening
its marketing network in Southeast Asia, particularly Vietnam.
Responding to the growing market, Kobelco opened a representative
office in Ho Chi Minh City in October 2002 and a Hanoi office
in October 2003.
The need to more effectively meet customer needs at the local
level led to the establishment of Kobelco Construction Machinery
Vietnam. In addition to new and used construction machinery,
the new company offers spare parts and aftersales services.
These activities are anticipated to expand the presence of
Kobelco and further develop the construction machinery business